Allegion acquires Spanish access-control firm
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Security-products company Allegion Plc has acquired Montajes Electronicos Dorcas S.L., a privately held company based in Siete Aguas, Spain, the company announced Monday.
Allegion is headquartered in Ireland, but its Americas division is based in Carmel. The company makes mechanical and electrical locks, electronic safety products and other products under brand names including Schlage, Steelcraft and Von Duprin, among others.
Dorcas makes electro-mechanical access-control products, including a variety of types of door locks and access panels. The company was established in 1971.
Financial terms of the deal, which closed Friday, were not disclosed.
Dorcas will operate as part of the Allegion International segment, which is led by Carmel-based Senior Vice President Tim Eckersley. Dorcas CEO Pablo Ibanez is joining Allegion as managing director of the company’s Dorcas business.
“Dorcas’ electric strikes and locks are integral elements of access-control systems, and adding this business to Allegion International is another strategic investment in the health and quality of our portfolio,” Eckersley said in a written statement. “Combined, our teams will specify and supply a broader range of seamless access solutions across customers and channels.”
Allegion reported 2023 revenue of $3.7 billion. The company has 12,400 employees, 48% of whom work in the United States, with about 1,600 in Indiana.
Dorcas products are distributed and sold internationally, with a strong presence across European markets, including the health care and education segments.
Allegion declined to disclose the financial terms of the deal and details about Dorcas’s annual revenue and employee count, describing the acquisition as non-material.
The Dorcas deal represents Allegion’s second recent acquisition of a European company. On Feb. 1, Allegion announced its acquisition of Livingston, Scotland-based Boss Door Controls.